Lisbon
signs Lied’s deal with developers
Potential $9 million development

By Kelly Smith - Special to Conley Media

March 15,
2019

TOWN OF LISBON —The Town Board
Thursday night approved the first step in a development plan that
could lead to a $9.5 million, 175,000-square-foot, commercial
building built on a portion of the former Lied’s Nursery Company
land near the intersection of Town Line Road and Main Street,
Sussex.

The board unanimously approved a letter of intent between the town
and Springdale-94 North LLC that outlines the potential development
of most of the 65-acre commercial site that the town purchased from
local developer Jim Forester for $1.7 million in 2016.

The terms of the letter were initially discussed during a closed
session Monday night.

A special meeting was called Thursday for the board to approve the
letter.

Springdale-94 North LLC are business partners with the Briohn
Building Corporation of Brookfield, according to company spokesman
Joe Jursenas.

Briohn Building Corporation is a 40-year-old family-owned business
that has developed, built, designed, and managed number
manufacturing, commercial, retail medical and service company
projects in Waukesha County and Lake Country, according to its
website.

Jursenas told Conley Media that the letter of intent is an
indication of the business partners’ intent to work with the town in
the development of the property. “We have thought there was a great
potential for that property for some time,” he said.

The letter divides about 58 acres of the property into three
parcels.

The town will sell about 17 acres in “Parcel A” to the developers
for $1 on the condition the developers construct a building with a
construction cost valued at approximately $9.5 million.

According to the letter, the building will be both an office
building and manufacturing facility of approximately 175,000 square
feet.

The layout and dimensions of the proposed development will be
subject to the town’s approval.

Town Chairman Joe Osterman told Conley Media the town is willing to
virtually give the land to the developer because the building will
immediately generate real estate tax revenues for a tax incremental
financing district being used to finance public improvements for the
town.

In addition, the developers will have the first option to purchase
lands included in parcels B and C described in the letter of intent.

Jursenas said it is the business partners’ intent to exercise those
options and fully develop the property.

However, there are about six to seven acres that the town will
retain for Forester, according to Osterman.

The town purchased the land from Forester to prevent it from being
annexed into Menomonee Falls.

For two decades, town officials had believed the abandoned nursery
property had potential for redevelopment that could significantly
increase the town’s commercial tax base.